Owens Corning (NYSE:OC) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its position in shares of Owens Corning (NYSE:OC) by 70.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,527 shares of the construction company’s stock after selling 15,662 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Owens Corning were worth $1,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in OC. Retirement Guys Formula LLC raised its holdings in shares of Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock valued at $342,000 after buying an additional 58 shares during the last quarter. PFG Investments LLC raised its stake in Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after acquiring an additional 68 shares during the last quarter. Tobam lifted its position in Owens Corning by 38.0% during the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after acquiring an additional 73 shares during the period. First Bank & Trust grew its stake in shares of Owens Corning by 2.0% in the 3rd quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock valued at $646,000 after purchasing an additional 73 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Owens Corning by 24.9% in the first quarter. Bessemer Group Inc. now owns 391 shares of the construction company’s stock valued at $65,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.

Insider Buying and Selling

In other Owens Corning news, insider Marcio A. Sandri sold 3,051 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $176.50, for a total transaction of $538,501.50. Following the transaction, the insider now owns 57,079 shares of the company’s stock, valued at $10,074,443.50. This represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on OC shares. Wells Fargo & Company lifted their price objective on shares of Owens Corning from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Owens Corning in a research note on Wednesday, August 7th. Royal Bank of Canada raised their price objective on shares of Owens Corning from $213.00 to $217.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com upgraded Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, The Goldman Sachs Group lifted their price target on Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Owens Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.62.

Owens Corning Stock Performance

NYSE:OC opened at $195.26 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $16.75 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.14 and a beta of 1.41. The firm has a 50-day moving average price of $178.38 and a two-hundred day moving average price of $174.39. Owens Corning has a twelve month low of $128.79 and a twelve month high of $199.54.

Owens Corning (NYSE:OC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.33. Owens Corning had a net margin of 9.92% and a return on equity of 25.82%. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the company posted $4.15 EPS. The company’s revenue was up 22.9% on a year-over-year basis. As a group, research analysts expect that Owens Corning will post 15.39 earnings per share for the current fiscal year.

Owens Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Friday, October 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, October 18th. Owens Corning’s payout ratio is currently 20.43%.

Owens Corning Profile

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.